FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of March 2006
TOP TANKERS INC.
(Translation of registrant's name into English)
109-111 Messogion Avenue
Politia Centre
Athens 115 26 GR
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F [X] Form 40-F [__]
Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information to
the commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
Yes [__] No [X]
INFORMATION CONTAINED IN THIS FORM 6-K REPORT
Set forth herein as Exhibit 1 is a copy of the press release issued by TOP
Tankers Inc. (the "Company") on March 17, 2006 announcing the Ex-dividend date
for the Company's special dividend.
Exhibit 1
NEWS RELEASE for March 17, 2006
-------------------------------
Contact: Michael Mason (investors) Stamatis Tsantanis, CFO
Allen & Caron Inc. TOP Tankers Inc.
212 691 8087 011 30 210 697 8199
michaelm@allencaron.com snt@toptankers.com
STATEMENT BY TOP TANKERS
ATHENS, GREECE (March 17, 2006) Top Tankers Inc. (Nasdaq:TOPT) announced today
that the National Association of Security Dealers (NASD(R)) has set the date of
March 28, 2006 as the Ex-dividend date for the Company's recently announced
special dividend of $5.00 per share payable on March 27, 2006, to shareholders
of record as of March 22, 2006.
NASD UPC (Uniform Practice Code) rule 11140 provides that dividends or
distributions that are 25 percent or greater of the value of the subject
security, the ex-dividend date shall be the first business day following the
payable date.
Therefore, the relevant dates are as follows:
March 22, 2006: Shareholder record date
March 27, 2006: Dividend payable date
March 28, 2006: Ex-Dividend date
The Company expects to declare an additional special dividend in the amount of
$2.50. The declaration of that dividend and applicable dates are expected to be
announced towards the end of March 2006.
Individual investors should check with their brokers for more information.
About TOP Tankers Inc.
----------------------
TOP Tankers Inc. is an international provider of worldwide seaborne crude
oil and petroleum products transportation services. The Company operates a fleet
of 27 tankers, consisting of 13 double-hull Suezmax tankers and 14 double-hull
Handymax tankers, with a total carrying capacity of approximately 2.6 million
dwt, of which 88.8 percent are sister ships. Nineteen of the Company's 27
tankers are on time charter contracts with an average term of over three years
with all but two of the time charters including profit sharing agreements.
Forward-Looking Statements
Matters discussed in this release may constitute forward-looking
statements. Forward-looking statements reflect our current views with respect to
future events and financial performance and may include statements concerning
plans, objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements, which are other than statements of
historical facts.
The forward-looking statements in this release are based upon various
assumptions, many of which are based, in turn, upon further assumptions,
including without limitation, management's examination of historical operating
trends, data contained in our records and other data available from third
parties. Although TOP Tankers believes that these assumptions were reasonable
when made, because these assumptions are inherently subject to significant
uncertainties and contingencies which are difficult or impossible to predict and
are beyond our control, TOP Tankers cannot assure you that it will achieve or
accomplish these expectations, beliefs or projections.
Important factors that, in our view, could cause actual results to differ
materially from those discussed in the forward-looking statements include the
strength of world economies and currencies, general market conditions, including
changes in charterhire rates and vessel values, failure of a seller to deliver
one or more vessels, failure of a buyer to accept delivery of a vessel,
inability to procure acquisition financing, changes in demand for oil and
petroleum products, the effect of changes in OPEC's petroleum production levels
and worldwide oil consumption and storage, changes in demand that may affect
attitudes of time charterers, scheduled and unscheduled drydocking, changes in
our voyage and operating expenses, including bunker prices, dry- docking and
insurance costs, changes in governmental rules and regulations including
requirements for double-hull tankers or actions taken by regulatory authorities,
potential liability from pending or future litigation, domestic and
international political conditions, potential disruption of shipping routes due
to accidents and political events or acts by terrorists.
Risks and uncertainties are further described in reports filed by TOP
Tankers with the US Securities and Exchange Commission.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
TOP TANKERS INC.
(Registrant)
Dated: March 20, 2006 By: /s/ Stamatis N. Tsantanis
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Stamatis N. Tsantanis
Chief Financial Officer
23116 0001 653643